• Latest
  • Trending
  • All
Dollar lacks upside momentum due to lower Treasury yields

USD bulls remain in control

March 3, 2022 06:26
Dollar lacks upside momentum due to lower Treasury yields

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
Chinese data spooks investors, sentiment turns sour

Stock markets turn directionless after a bounce

May 18, 2022 05:08
Dollar lacks upside momentum due to lower Treasury yields

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
Sentiment turns sour, dollar steadies ahead of the weekend

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
Dollar lacks upside momentum due to lower Treasury yields

Dollar off tops but resilient

May 16, 2022 05:44
Stocks mostly lower despite upbeat economic data

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
Dollar lacks upside momentum due to lower Treasury yields

Dollar refrains from a deeper retreat

May 13, 2022 06:04
Dollar lacks upside momentum due to lower Treasury yields

The greenback seems unstoppable

May 12, 2022 06:34
Risk sentiment looks mixed, dollar retreats marginally

Dollar at fresh highs while stock markets keep bleeding

May 12, 2022 06:21
Dollar lacks upside momentum due to lower Treasury yields

Dollar bulls take a pause, US data eyed

May 11, 2022 07:22
Stocks continue to give up gains ahead of US jobs data

Stocks bounce ahead of US inflation report

May 11, 2022 07:09
Dollar lacks upside momentum due to lower Treasury yields

Dollar holds steady after local correction

May 10, 2022 10:16
  • Terms & Сonditions
  • Contact
Wednesday, May 18, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

    A mixed start to the week in the global markets

    Markets a sea of red ahead of US jobs data

    Geopolitics pushes global markets south, dollar bulls back in the game

    Post-Fed rally fades, USD recovers

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

    A mixed start to the week in the global markets

    Markets a sea of red ahead of US jobs data

    Geopolitics pushes global markets south, dollar bulls back in the game

    Post-Fed rally fades, USD recovers

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » USD bulls remain in control

USD bulls remain in control

by Joseph Deen
March 3, 2022 06:26
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

Should the 1.1060 zone give up anytime soon, the euro will target the 1.1000 level next

EURUSD

The dollar index extended gains to notch fresh mid-2020 highs marginally below the 98.00 figure before retreating to the 97.40 area amid Powell’s more dovish comments on Wednesday. As such, EURUSD derailed the 1.1100 figure for the first time since May 2020 to notch fresh long-term lows just below the 1.1060 region. Still, the pair came off lows to finish the day above 1.1100 as dollar demand had eased somehow. The common currency failed to extend the bounce, however, as traders stay cautious amid the developments surrounding Russia and Ukraine. As such, the pair came back under selling pressure, holding slightly off the mentioned lows. Should the 1.1060 zone give up anytime soon, the euro will target the 1.1000 level next. On the upside, a decisive bounce above 1.1120 could somehow ease the selling pressure surrounding the common currency. 

GBPUSD

GBPUSD bounced back from fresh 2022 lows to get back to the 1.3400 figure on Wednesday as the dollar came off peaks after less hawkish comments from the Fed’s Powell. However, the pair failed to reserve the upside bias and came back under pressure on Thursday due to the resurgent demand for the greenback. The prices are holding above the 1.3370 region, losing 0.14% on the day during the European trading hours. Should this support withstand the pressure, a bounce towards 1.3400 can be expected again. On the four-hour charts, GBPUSD is now clinging to the 20-SMA, a break below which would add to downside pressure in the near term. In a wider picture, GBP bears remain in control as long as the prices stay below the 100- and 20-DMAs, currently around 1.3500.    

USDJPY

USDJPY extends yesterday’s rally that took the prices back above the 20-DMA, currently at 115.30. The pair extended the ascent to mid-February highs around 115.80 and was last seen clinging to the upper end of the range. Should the bullish momentum persist in the short term, the greenback may regain the 116.00 level to retarget multi-year highs. However, it looks like the safe-haven yen demand will reemerge eventually and take the prices back below 115.00 amid rising geopolitical tensions in combination with the Fed’s more measured approach to hiking rates because of the situation surrounding Ukraine. On the four-hour timeframes, the RSI looks directionless in the neutral territory, suggesting the pair could struggle to extend the ascent in the immediate term.

XAUUSD

Gold prices have steadied on Thursday following the recent downside correction from fresh multi-year peaks registered around $1,975 last week. The yellow metal has settled below the $1,930 area during the European hours, retaining a slight bearish bias as risk trades have bounced somewhat. At this point, as long as the bullion stays below the $1,950 region, bears retain control in the short term. The metal could struggle to regain this level due to a stronger dollar that stays just below mid-2020 highs. In a negative scenario, the XAUUSD pair will likely slip further from the mentioned highs, bringing the $1,900 handle back into the market focus. However, it looks like the bullion will stay above the ascending 20-DMA, currently at $1,880. On the upside, a decisive break above the $1,935 immediate barrier would open the door towards $1,950.

Tags: DollarEURUSDGBPUSDGoldUSDUSDJPYXAUUSD
Share2Tweet1
ADVERTISEMENT
Joseph Deen

Joseph Deen

Joseph is a technical analysis expert. A graduate of NYU, Joseph has a master's degree in mathematics. On FWNews, Joseph provides exchange rates reviews and forecasts.

Related Posts

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
13
Chinese data spooks investors, sentiment turns sour
Fundamental analysis

Stock markets turn directionless after a bounce

May 18, 2022 05:08
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
15
Sentiment turns sour, dollar steadies ahead of the weekend
Fundamental analysis

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar off tops but resilient

May 16, 2022 05:44
18
Stocks mostly lower despite upbeat economic data
Fundamental analysis

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

The EU’s finance ministers will agree a list of supportive measures amid the coronavirus outbreak

Risk-on tone persists on further signs of slowing growth in the spread of the virus

April 7, 2020 07:50
21

Fed’s Mester doesn’t see policy changes coming from GameStop saga

February 4, 2021 19:40
10
Tech analysis

Trade of the Day: NZD/CAD

February 17, 2020 20:49
17

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2020 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2020 FWNews